ABS Partners Real Estate Acquires Retail Property In Astoria, Queens For $4.4M
SOLD
$4,464,000
New York
See Similar DealsRetail5,624 SF
Sold 02/01/2021
SOLD
ABS Partners Real Estate Acquires Retail Property In Astoria, Queens For $4.4M
3159 Steinway Street, Astoria, Queens County, NY, USA
See Similar DealsRetail5,624 SF
Sold 02/01/2021
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$793
Total Square Footage:5,624 SF
Transaction Type:Sale
A retail property located at 3159-3163 Steinway Street in Astoria, Queens, was recently sold for a total price of $4,464,000. The transaction took place on 02/01/2021.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $4,464,000
- Address: 3159-3163 Steinway Street, Astoria, Queens
- Market: Astoria, Queens
The buyer of the property was ABS Partners Real Estate, while the seller was Ronnie Strause. The deal was facilitated by the brokers Stephen R. Preuss and Andreas Efthymiou from Cushman & Wakefield, as well as Doug Weinstein from Ripco Real Estate.
The property has a building square footage (BSF) of 5,624, with a price per square foot (PPSF) of $794.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$238,080.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$15,859.65
Cash-on-Cash Return-1.27%
Monthly Debt Service$21,161.64
Annual Debt Service$253,939.65
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